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Is Fortinet (FTNT) Stock Outpacing Its Computer and Technology Peers This Year?

Zacks Equity Research
Shutterfly (SFLY) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Fortinet (FTNT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Fortinet is one of 641 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. FTNT is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for FTNT's full-year earnings has moved 9.73% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, FTNT has returned 29.32% so far this year. In comparison, Computer and Technology companies have returned an average of 22.40%. As we can see, Fortinet is performing better than its sector in the calendar year.

Looking more specifically, FTNT belongs to the Security industry, a group that includes 11 individual stocks and currently sits at #20 in the Zacks Industry Rank. This group has gained an average of 22.93% so far this year, so FTNT is performing better in this area.

Investors in the Computer and Technology sector will want to keep a close eye on FTNT as it attempts to continue its solid performance.


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